Key Points:
- SEC faces a crucial deadline in its appeal against Ripple.
- Gary Gensler exits as SEC Chair on January 20.
- XRP shows bullish momentum amid legal and market developments.
Ripple Awaits SEC’s Next Step
The SEC must submit its Opening Brief for the Ripple appeal today. This could mark Gary Gensler’s final move as SEC Chair. Paul Atkins, known for a balanced regulatory approach, will replace Gensler on January 20.
Ripple’s Chief Legal Officer, Stuart Alderoty, requested an extension for the SEC’s filing, which was denied. Despite this, Ripple remains confident in its appeal. CEO Brad Garlinghouse expressed little surprise at the SEC’s decision, calling it typical of Gensler.
Legal Shifts Could Favor Ripple
Gensler is known for aggressive action against crypto firms. Atkins’ leadership might bring a more cooperative regulatory approach. This transition could accelerate the Ripple vs. SEC case, potentially resolving it in Q1 2025.
XRP Price Analysis: Testing Key Resistance
XRP surged 9.4% in 24 hours to $2.82, gaining 21% over the week. It tests the $2.90 resistance level, a high since 2017. Breaking above $2.90 could push XRP toward its all-time high of $3.84.
Support levels include $2.75 and the 30-day moving average at $2.34. The Relative Strength Index (RSI) of 68 signals bullish momentum, indicating potential gains if XRP surpasses resistance.
Crypto Hype and Altcoin Opportunities
The upcoming regulatory shift and bullish sentiment benefit altcoins. Tokens like Cardano and others in the top 50 are seeing gains. Market excitement resembles the November surge following U.S. political developments.
New projects like Wall Street Pepe ($WEPE), Best Wallet Token ($BEST), and Mind of Pepe ($MIND) are gaining attention. These presales offer potential for high returns, with features like staking rewards and exclusive benefits.
Conclusion: A Turning Point for Ripple
The Ripple vs. SEC case and Gensler’s exit set the stage for significant developments. XRP’s bullish momentum and market conditions suggest exciting opportunities ahead.
SOURCE: NewsBTC
